Americans have $2.1T sitting in abandoned 401(k) accounts. See if you have any forgotten funds

Nobody wants to miss out on money that’s rightfully theirs, yet many people do without even realizing it.
That includes retirement savings. According to Capitalize and the Center For Retirement Research, an estimated 31.9 million 401(k) accounts holding roughly $2.1 trillion have been forgotten or left behind by their owners (1).
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Losing track of retirement funds is easier than it sounds. Job changes, a skipped roll over, a company merger or name change or simply losing touch with a former employer can be enough for an old account to slip off the radar. And we’re not talking about just a few dollars: Some people unknowingly leave behind $20,000 or more in a former workplace plan (2).
The money doesn’t disappear, but it also won’t automatically be paid out. In most cases, account holders must actively track it down and claim it.
The good news is that new federal tools, together with longstanding state programs, are making it easier than ever to locate forgotten money and potentially recover significant sums you didn’t even know existed.
How to find forgotten retirement money
To help workers reconnect with retirement savings they may have lost track of, the U.S. Department of Labor (DOL) launched the Retirement Savings Lost and Found database.
This free tool lets users search for retirement plans linked to their name through a secure identity verification process. While it does not show account balances, it provides contact information for plan administrators, giving people a starting point to track down money that may still be sitting in an old 401(k) or pension (3).
In its first year, 236,269 users tried the database, and about 29.5% of them were able to locate at least one old workplace retirement plan, according to the DOL. One important limitation is that the database only includes information for workers age 65 and older. The DOL said coverage may expand over time, but, for now, the tool doesn’t cater to younger people (2).
Other ways to track down forgotten retirement savings include:
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Contact former employers directly, especially if you worked there for several years or contributed regularly to a 401(k).
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Check old paperwork or emails for plan administrator names, account numbers or rollover notices.
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Search the National Registry of Unclaimed Retirement Benefits, which can help locate pensions and other retirement plans tied to former employers (4).
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Look for default IRAs, also called automatic rollover or safe harbor IRAs, which employers may have opened automatically if your balance was small when you left a job. They also get created if you do not respond to notices from the former employer. These may be found in the database FreeERISA (5).